As promised, I will now integrate the DOM!
Previously, I mentioned that if the downtrend structure is broken at the 4500 level, the DOM will rise to "support" at 4730 (not remembering exactly).
Currently, the DOM has reached 4730 and is decreasing - indicating that there is buying force at this level.
However, it is still not confirmed that 4730 is the bottom for altcoins in general when BTC has not yet shown a clear reversal candle.
Possible scenarios:
- Confirm again along with BTC (112.6-111.5) and DOM (4730) as the bottom, then the DOM will continue to decrease, and the decrease will return to the old "resistance" at 4360.
Worst-case scenario: BTC continues to drop - altcoins will continue to drop - DOM will continue to rise, the next support level to pay attention to is 4850.
Summary of important levels of DOM:
- Turnaround support: 4730-4830
- Resistance: 4360
P.S.!